Account Recovery

JANUARY 7, 2025

The Consumer Financial Protection Bureau this morning announced the release of its final rule prohibiting the inclusion of medical debt on consumer credit reports. This rule is expected to remove $49 billion in medical debt from credit reports, impacting approximately 15 million consumers. Additionally, it bars lenders from considering medical information in credit decisions, addressing concerns about the fairness and accuracy of medical debt in credit assessments.

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Lender Consumer Credit Loans Healthcare 246

American Profit Recovery

JANUARY 6, 2025

Active listening is something our professional debt collectors practice and implement daily here. In fact, we would go as far as to say that it is one of the foundations of how we operate. In all aspects of life and business, listening is one of the most critical skills we can master. And as a collection agency working with small businesses and large organizations, it is a must for us to carry out our mission.

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Enterprise Recovery

JANUARY 22, 2025

Understanding the differences between business and consumer debt collections can profoundly influence your approach to developing an effective recovery strategy. This knowledge allows you to tailor your methods to suit the specific type of debt you are dealing with, ensuring that you employ the most appropriate techniques and adhere to relevant regulations.

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True Accord

JANUARY 7, 2025

The terms “omnichannel” and “multi-channel” are frequently used to describe consumer outreach strategies, and while they may sound similar, the differences between these approaches are crucial, especially for effective debt collection. Lets break down the key differences between omnichannel and multi-channel communications, particularly in the context of debt collection, and why these distinctions matter more than ever.

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Collections Debtor 101

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

Collect More

JANUARY 19, 2025

If there are multiple outstanding invoices on your customer’s Statement then unfortunately my friend, you have a problem. When was the last time you cut off a debtor who owed you money? Said no when they asked you to do more work or provide more stock? Told them you’d only agree once they’ve paid you in full? If you’re like most small businesses the answer is never.

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Account Recovery

JANUARY 2, 2025

Defaults on credit card debt have surged to their highest levels since the 2008 financial crisis, signaling worsening financial conditions for lower-income consumers amid persistent inflation and elevated interest rates. By the numbers: The big picture: Consumers are feeling the pinch as higher balances and borrowing costs erode their financial stability: Between the lines: The pandemic-era surge in savings and consumer spending gave credit card issuers confidence to extend credit to riskier bor

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Credit Card Debt 246

American Profit Recovery

JANUARY 9, 2025

There are many great career opportunities in the debt collection industry. And one of them is being a professional debt collector. Professionally trained debt collectors serve several purposes. They of course assist a business with improving cash flow by bringing late and non-paying customers to the table. And they help consumers navigate challenging financial situations.

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Debt collector Collections Agency Collection Agencies Collections 199

Enterprise Recovery

JANUARY 10, 2025

As accounts receivable (A/R) become delinquent, your business expenses could fall behind. With every late-paying client, cash flow for payroll, rent, or other vendors falls short, threatening your company's bottom line and growth. The effectiveness of your A/R department may be one of the most important measurements to determine the success of your business.

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Collections 171

True Accord

JANUARY 15, 2025

Email has come a long way from the mass blast messagingdeveloping, customizing, and optimizing intelligent email strategies has shown success in both engagement and repayment rates in debt collection. But there’s more that goes into harnessing this channel than just hitting send and hoping for the best. Heres how creditors and collectors can strategically leverage email in debt collection communications to enhance engagement, maintain compliance, and drive repayments.

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Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

Qualco

JANUARY 29, 2025

Artificial Intelligence (AI) technology is reshaping the way businesses operate, engage with customers, and achieve growth in today's data-driven world. By enabling digital efficiency, AI empowers organisations to adopt innovative strategies that enhance competitiveness and resilience. At QUALCO, we harness the power of AI to turn data into actionable insights, helping our clients navigate complex challenges and foster sustainable growth.

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UK debt collections

JANUARY 27, 2025

Late payments are the primary culprit for causing cash flow problems for businesses according to two fifths (41%) of UK small and medium-sized enterprises (SMEs) while making sure the bills are paid was an issue for a third (32%) and having access to emergency cash (21%) was also top of the list. Thats according to Allstar , one of the UKs leading business, EV and fuel expense payment companies, which researched the issues plaguing the nations small businesses.

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Government 81

Account Recovery

JANUARY 8, 2025

The Consumer Financial Protection Bureau yesterday announced it has filed a lawsuit against Experian, one of the nation’s largest credit reporting agencies, accusing it of systemic failures in handling consumer disputes. The suit could have widespread implications for credit reporting practices, debt collection, and consumer financial protections.

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Jimerson Firm

JANUARY 16, 2025

(Update as of 12/27/24): In a shocking turn of events, on December 26, 2024, the Fifth Circuit Court of Appeals reversed its own Order issued earlier this week (see below), resulting in a reinstatement of the injunction on filing beneficial ownership information (BOI) reports. This means that as of this blog post, there is no firm deadline on when you need to file your BOI.

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Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

Collections

Hudson Weir

JANUARY 10, 2025

Businesses rely on steady cash flow to operate smoothly, and unpaid invoices can create major hurdles With this in mind, you might wonder: what is a letter before action and how can it help recover debts? UK small businesses face an average of 22,000 in overdue payments, translating to an economic loss of 2.5 billion annually. In fact, customers paid nearly 50% of small businesses invoices late between June 2023 and June 2024, according to Apollo.

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True Accord

JANUARY 27, 2025

For consumer engagement in debt collection, many organizations and agencies have moved away from outbound calling but dont discount reaching out to consumers phones just yet! Text messaging (referred to as SMS or short message service) is becoming a favored method for consumers to receive business communications. Its common knowledge these days that people tend to ignore phone calls from unknown numbers and often throw away physical letters without opening them, but they will also delete unfamil

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Consumer Finance

JANUARY 16, 2025

The CFPB took action against Equifax, the nationwide consumer reporting agency, for its failure to conduct proper investigations of consumer disputes.

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PDC Flow

JANUARY 9, 2025

We are thrilled to announce PDCflow has been recognized with the Best Customer Support Badge by Software Advice , a leading software recommendation engine that helps businesses find the right software. This Best of badges program is an independent assessment that evaluates user reviews to help buyers identify highest-rated software companies in specific categories that offer the most popular solutions.

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Collections 70

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

Banks

Account Recovery

JANUARY 9, 2025

A District Court judge in Illinois has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case, ruling the plaintiff lacked standing after alleging violations related to a disputed debt originating from identity theft. The background: The case stemmed from a credit card account fraudulently opened in the plaintiff’s name with a retailers branded credit card.

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Collections Law

JANUARY 31, 2025

When you are pursuing a commercial collections lawsuit against a business debtor, it is easy to assume that payment is just around the corner. Unfortunately, this assumption can be wrong and this isn’t always the case. In Massachusetts, the mere act of suing does not guarantee youll get paid. This is why prejudgment attachments are important. At Law Offices of Alan M.

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The Kaplan Group

JANUARY 30, 2025

The B2B debt collection market is experiencing significant growth, as evidenced by clear, quantifiable data from reputable sources. A new study by The Kaplan Group provides insights into the market’s size, growth projections, and key segments in the debt collection industry. Key Takeaways The B2B debt collection market is set for remarkable growth, projecting an increase from USD 4.94 billion in 2023 to USD 9.29 billion by 2030.

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On Guard

JANUARY 30, 2025

A total of 71% of organisations are already leveraging AI to enhance their financial operations, with adoption set to reach nearly universal levels within the next three years, latest KPMG research shows. Financial accounting and reporting account for the biggest AI use in finance, but the AI use is spreading across more finance areas. The findings result from two KPMG studies conducted in 2024.

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Collections Agency

Consumer Finance

JANUARY 13, 2025

The CFPB sued Capital One for cheating millions of consumers out of more than $2 billion in interest.

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Banks 145

Hudson Weir

JANUARY 20, 2025

During a companys liquidation, the appointed insolvency practitioner aims to raise as much money as viable to repay creditors, but there may not be enough to reimburse everyone. A proof of debt form is one way that creditors can increase their chances of recouping some of the money owed to them. The Insolvency Act 1986 establishes a legal hierarchy to compensate creditors throughout a company liquidation.

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Creditors Unsecured Creditor Secured Creditor Loans 59

Account Recovery

JANUARY 3, 2025

Artificial Intelligence is revolutionizing industries, including credit and collections, but contrary to popular opinion, it’s far from unregulated. Ellen Rosenblum, who just retired as the attorney general of Oregon, issued guidance in late December clarifying that existing consumer protection, privacy, and anti-discrimination laws apply to AI, potentially reshaping how companies deploy this transformative technology.

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FFGN COLLECT NY

JANUARY 23, 2025

In our modern times, its easy to find whatever youre looking for within a few clicks. Though the internet makes finding goods and services simple, that doesnt mean the first option you come across will be whats best for you. This is especially true when it comes to legal services. Its important to do your research and connect with an attorney who can move your debt collection case forward.

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Speaker: Erika R. Bales, Esq.

When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.